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Employed

There is one golden rule with retirement planning. Work out how much money you think you are going to need after you retire - a figure we call your 'magic number' - and then start planning for it straightaway.

It does not matter when you intend to retire, if you do not start planning for it now, there is a real danger that you could outlive your savings. It will soon no longer be unusual for people to spend nearly as long in retirement as they did in employment.

Calculating how big your retirement fund needs to be is relatively simple. Take into account all your likely living costs to estimate how much annual income you think you would need from 65 onwards. Allow for inflation and then multiply the figure by 25. This gives you your 'magic number', the retirement fund you will need to provide the income you require based on current annuity rates.

St. James's Place has a range of plans to help provide for your retirement, no matter what stage of planning you are at. You must have flexibility in all aspects of your planning as your needs will change as your future earnings and career evolve.

We offer a service that is personal to you, delivering bespoke advice. Planning your retirement with us puts you in control, so that you can be confident about your future pension.

The value of a pension will be directly related to performance of the funds selected, and will fall as well as rise. You may get back less than the amount invested.

The Partner Practice represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group's wealth management products and services, more details of which are set out on the Group's website www.sjp.co.uk/about-st-james-place/our-business/our-products-and-services. The 'St. James's Place Partnership' and the titles 'Partner' and 'Partner Practice' are marketing terms used to describe St. James's Place representatives.

James Trickett & Son Financial Services is a trading name of James Trickett & Son (Financial Services) Ltd. James Trickett & Son (Financial Services) Ltd is registered in England and Wales, Number 06470117. Registered Office: 382 Newchurch Road, Rawtenstall, Rossendale, Lancashire, BB4 7SN.